ISLAMABAD: The Ministry of Commerce (MoC) has started assessment of implementation on the Strategic Trade Policy Framework (STPF) 2012-15. At same time, process of preparation of new national trade policy has also been kicked off which will be completed by the end of next year.
Reliable source has told Customs Today that MoC had started collecting data of achieved milestones and targets set in the present trade policy prepared for the current fiscal year.
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“In the light of findings of assessment targets and objectives will be set for the next trade policy, however, more probably $50 billion volume of foreign trade is very much likely to be set in next national trade policy” the source.
The source said that consultation process with all stakeholders would be carried out on the preparation of coming trade policy.
It is worth mentioning that MoC has announced to adopt the guiding principles to create a competitive environment to cater for the dual aspects of providing a level playing field for the domestic industry as well as consumer welfare. These guidelines include promoting competitive markets in Pakistan, ensuring conformity to international agreements and practices, promoting domestic and foreign investment, creating level playing field for Pakistani firms in international as well as domestic markets, due consideration to consumer welfare, catering for the changing needs of Pakistan’s economy and creating an enabling environment to pursue the legitimate goal of industrialisation in Pakistan.
MoC has already given a presentation on STPF 2012-15 to the Prime Minister on August 28, 2012. It is pertinent to mention here that Strategic Trade Policy Framework is framed for tenure of three years.
